From Breakingviews: EasyJet faces up to a harder reality for airlines and South Korea’s central bank edges closer to the monetary precipice. Read the latest column
EasyJet airplanes sit on the tarmac at Paris Charles de Gaulle airport in Roissy-en-France during the outbreak of the coronavirus disease in France May 25, 2020.EASY DOES IT. EasyJet is facing up to the harsh new reality for airlines. The UK budget carrier, which is due to restart services on June 15, on Thursday said it expects to fly about 30% of previously planned flights in the crucial months of July, August and September.
RED LINE. South Korea’s central bank is edging closer to crossing the monetary precipice, cutting the main interest rate on Thursday to a record low of 0.50%. After early success with containing the virus, the country is struggling with smaller outbreaks that threaten plans to ease social distancing curbs. Analysts at Capital Economics expect the $1.6 trillion trade-dependent economy to shrink 3% this year as exports plunge, far more than the official forecast.
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